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Gaming Innovation Group to acquire OddsModel AS
Tuesday March 22,2016 : GIG TO ACQUIRE ODDSMODEL
Described as milestone for the company.
Gaming Innovation Group Inc. (GIG) said it had achieved a milestone in fulfilling its ambition to offer a leading platform for sportsbook with the acquisition agreement to purchase sports betting tech company OddsModel AS.
GIG said it will gain a “team of top class experienced traders whom are sourcing the very best information and data into technology platforms to trade sports and hedge risk” through the acquisition.
The company will issue 21.87 million new GIG shares as consideration for all shares in OddsModel, corresponding to a multiple of approximately six on the projected net result for OddsModel in 2016. The new shares will be subject to a two-year lock-up agreement.
GIG intends the initial integration of the OddsModel system with its iGaming Cloud’s Sportsbook Engine to be concluded ahead of the Euro Cup in June 2016, and a complete integration to be completed thereafter.
"Through the acquisition and integration of the very exciting software, and vastly skillful people of OddsModel, GIG will significantly enhance its capability to serve attractive and innovative solutions to B2B and B2C customers,” said Robin Reed, chief executive officer of GIG.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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